Common use of Establishment of Series Accounts Clause in Contracts

Establishment of Series Accounts. (a) The Trustee shall cause to be established and maintained in the name of the Trustee, on behalf of the Trust, (i) for the benefit of the VFC Certificateholders and for the benefit, subject to the prior interest of the VFC Certificateholders, of the holder of the Subordinated Certificate, a subaccount of the Collection Account (the "Series 1997-1 Collection Subaccount"), which subaccount is the Series Collection Subaccount with respect to Series 1997-1, bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the VFC Certificateholders and for the benefit, subject to the prior interest of the VFC Certificateholders, of the holder of the Subordinated Certificate; (ii) for the benefit of the VFC Certificateholders and for the benefit, subject to the prior interest of the VFC Certificateholders, of the holder of the Subordinated Certificate, two subaccounts of the Series 1997-1 Collection Subaccount: the Series 1997-1 Principal Collection Sub-subaccount and the Series 1997-1 Non-Principal Collection Sub-subaccount (respectively, the "Series 1997-1 Principal Collection Sub-subaccount" and the "Series 1997-1 Non-Principal Collection Sub-subaccount"), each bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the VFC Certificateholders and for the benefit, subject to the prior interest of the VFC Certificateholders, of the holder of the Subordinated Certificate; and (iii) for the benefit of the VFC Certificateholders, a subaccount of the Series 1997-1 Non-Principal Collection Sub-subaccount (the "Series 1997-1 Accrued Interest Sub-subaccount"; all accounts established pursuant to this subsection 3C.2(a) being referred to herein collectively as the "Series Accounts" and the accounts listed on Schedule 1 being referred to herein, collectively as the "Trust Accounts"). The Trustee shall possess all right, title and interest in all funds from time to time on deposit in, and all Eligible Investments credited to, the Series Accounts and Trust Accounts and in all proceeds thereof. The Trust Accounts and the Series Accounts shall be under the sole dominion and control of the Trustee for, in the case of the Series Accounts, the exclusive benefit of the VFC Certificateholders and to the extent applicable, subject to the prior interest of the VFC Certificateholders, to the holder of the Subordinated Certificate.

Establishment of Series Accounts. (a) The Trustee shall cause to be established and maintained in the name of the Trustee, on behalf of the Trust, (i) for the benefit of the VFC Certificateholders and for the benefit, subject to the prior interest of the VFC Certificateholders, of the holder of the Subordinated Certificate, a subaccount of the Collection Account (the "Series 19971998-1 Collection Subaccount"), which subaccount is the Series Collection Subaccount with respect to Series 19971998-1, bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the VFC Certificateholders and for the benefit, subject to the prior interest of the VFC Certificateholders, of the holder of the Subordinated Certificate; (ii) for the benefit of the VFC Certificateholders and for the benefit, subject to the prior interest of the VFC Certificateholders, of the holder of the Subordinated Certificate, two subaccounts of the Series 19971998-1 Collection Subaccount: the Series 19971998-1 Principal Collection Sub-subaccount and the Series 19971998-1 Non-Principal Collection Sub-subaccount (respectively, the "Series 19971998-1 Principal Collection Sub-subaccount" and the "Series 19971998-1 Non-Principal Collection Sub-subaccount"), each bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the VFC Certificateholders and for the benefit, subject to the prior interest of the VFC Certificateholders, of the holder of the Subordinated Certificate; and (iii) for the benefit of the VFC Certificateholders, a subaccount of the Series 19971998-1 Non-Principal Collection Sub-subaccount (the "Series 19971998-1 Accrued Interest Sub-subaccount"; all accounts established pursuant to this subsection 3C.2(a) being referred to herein collectively as the "Series Accounts" and the accounts listed on Schedule 1 being referred to herein, collectively as the "Trust Accounts"). The Trustee shall possess all right, title and interest in all funds from time to time on deposit in, and all Eligible Investments credited to, the Series Accounts and Trust Accounts and in all proceeds thereof. The Trust Accounts and the Series Accounts shall be under the sole dominion and control of the Trustee for, in the case of the Series Accounts, the exclusive benefit of the VFC Certificateholders and to the extent applicable, subject to the prior interest of the VFC Certificateholders, to the holder of the Subordinated Certificate.